The Derivatives Service Bureau Reports Results from first 2019 Industry Consultation

The Derivatives Service Bureau Reports Results from first 2019 Industry Consultation
05.07.2019 01:15 pm

The Derivatives Service Bureau Reports Results from first 2019 Industry Consultation


The Derivatives Service Bureau (DSB), founded by the Association of National Numbering Agencies (ANNA) to facilitate the allocation and maintenance of International Securities Identification Numbers (ISINs), Classification of Financial Instrument codes (CFIs) and Financial Instrument Short Names (FISNs), for OTC derivatives, has today announced the results from its first consultation of 2019, and the opening of its second consultation aimed to shape the DSB service provision for 2020.

The first consultation closed on the 5th June 2019, and sought responses on a series of questions regarding the DSB’s service and functionality from both direct and indirect users of the DSB. A total of 15 responses were received representing 19 institutions and included responses from 6 trade associations which is double the number from the previous consultation. 

Of the 25 user driven questions put forward to industry, 5 were dismissed as not of interest to broader industry participants, and 10 are proposed to be taken forward by the DSB on a “business as usual” basis, with no impact on current costs. Included in those to be taken forward on a business as usual basis are the grouping of underlying data sources used by the DSB to be expanded, as well as highlighting specific aspects that they wish to see the DSB focus on as part of its ongoing data review activity. 

A further 10 questions from the first consultation require further industry feedback and investigation and will be included on the second consultation which will run until the 29th July 2019. Some of these items include providing support for DSB/MiFID II taxonomy mapping, leveraging the ISIN-LEI service to provide the LEI and other supplemental data, and a focus on cybersecurity. 

Emma Kalliomaki, Managing Director of ANNA and the DSB, said, “We are grateful for the industry engagement and responses from the first consultation, which were considered and thoughtful. As part of this feedback, we are focusing on creating a line of segmentation between what we can bring forward as “business as usual” with no cost impact to users, and other, new areas of work at the direct request of the industry.”

Malavika Solanki, a member of the DSB Management Team, said, “The ideas put forward in the first consultation were the direct result of the relationships and on-going dialogue the DSB has had with the industry during the first part of 2019, and we look forward to continuing to build on those relationships moving into the second half of the year. As a result of this collaborative approach, the DSB is not only looking at how to improve its current offering, but also at what new use cases it can bring forward such as providing additional data to support OTC derivative workflows.”

Related News

Esme Loans reaches £70 million of lending to UK SMEs

Esme Loans, the standalone digital lending platform for SMEs and scale up businesses, has today announced that it has now lent over £70million to UK businesses.

The... Read more »

Most financial services firms ‘not prepared’ for digital transformation, research suggests

Tens of thousands of financial services businesses are avoiding upgrading their digital systems because they don’t deem digital transformation to be important, research... Read more »

Poll reveals low confidence in month-end close process

Almost three-quarters *(73%) of respondents to an MHR Analytics Twitter poll revealed they are not confident about their data and numbers on month-end closes and audit... Read more »

Micron Unveils Industry’s Highest-Capacity Monolithic Memory for Mobile Applications

Micron Technology, Inc. (Nasdaq: MU), today unveiled the industry’s highest-capacity monolithic 16Gb low-power double data rate 4X (LPDDR4X) DRAM. Capable of delivering up to... Read more »

Abacus Group Named to Inc. Magazine’s Annual List of America’s Fastest-Growing Private Companies—the 2019 Inc. 5000

Inc. magazine today revealed that Abacus Group, a leading provider of hosted IT solutions and services for alternative investment firms, has been named to the 2019 Inc... Read more »

MAS Issues New Rules to Strengthen Cyber Resilience of Financial Industry

The Monetary Authority of Singapore (MAS) today issued a set of legally binding requirements to raise the cyber security standards and strengthen cyber resilience of the... Read more »

Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel